Annual
Report 2013

Reducing the environmental impact created by our operations is among our principles of ethics and transparency. Implementing environmentally-responsible initiatives is as important as raising awareness of the need to protect natural resources.

Our commitment to the environment is reinforced by our signing of the United Nations Global Compact, whose tenets include the defense of the environment. As an institutional investor, we have also been a party to the Carbon Disclosure Project since 2005. This international nonprofit is backed by investors and asks companies to disclose information on climate change, water, and forests. Our purpose is to promote the inclusion of this issue in the agenda of these audiences when they make strategic decisions.

In 2013, our investments in such initiatives added up to BRL 23,303.24. The full amount was used to prepare our annual greenhouse gas inventory, neutralize our emissions by purchasing carbon credits, and making efforts to raise awareness among our internal audience.

Greenhouse Gas Management

Every year, we survey our direct and indirect greenhouse gas emissions. This initiative is based on the methodology of the Brazilian GHG Protocol program and covers the following:

- Direct emissions (use of fossil fuels by our generators and vehicles);

- Indirect emissions (power consumption, use of fuel when taking cabs and using courier services, air travel, and generation of organic waste).

The total volume of our CO2 (carbon dioxide) emissions was 690.99 tons of CO₂ in 2013.

	2011	2012	2013
Source	Emissions (tCO2)	Emissions (tCO2)	Emissions (tCO2)
Scope 1
Generators	0	2.4	8.8
Corporate Fleet	6.1	6.2	6.1
Scope 2
Electricity	70	171.9	231.4
Scope 3
Air Travel	367.6	408.6	394.5
Taxicabs and Motorcycle Couriers	14.4	22.9	22.7
Waste Generation	26.2	21.6	27
Total Emissions	484.3	633.6	690.99

In 2013, our total energy consumption added 3,534,001 kWh, which is equivalent to 231.4 tons of CO2. This number includes our headquarters, where our main operations take place, and partially the Jabaquara building, which is where part of our call center team works.

During FY 2013, we offset our 2011 and 2012 emissions by purchasing 1,118 tons of carbon credits generated by the Cerâmica Lara project in Cachoeira Paulista, São Paulo State. In addition, we continue to protect six 14.8 acres of native forest in Barra do Turvo, São Paulo State, regarding our 2007-2010 carbon neutralization efforts.

Waste Disposal

As part of our eco-effectiveness initiatives, waste sorting continued in 2013. From time to time, we reinforced our message to engage our internal audience and we maintained a Recycling Area that enabled our employees to dispose of their domestic recyclable waste. The sorted waste was sent for recycling, except for organic waste, which was sent to the Pedreira landfill in the city of Guarulhos, São Paulo State.

Total Amount of Waste Collected (By Weight. Type. and Disposal Method)
Type of Waste	2011	2012	2013	Recycling
Plastic (tons)	5.89	5.46	8.59	Yes
Paper and Board (tons)	18.35	14.54	14.98	Yes
Metal (tons)	0.46	0.28	0.66	Yes
Glass (tons)	0.07	0.03	0.13	Yes
Organic (tons)	24.92	20.6	25.76	No

To reinforce our environmentally-responsible efforts, in 2013, we notified our clients that the paper statements they received every year would no longer be sent after 2014. With this measure, we want to promote a rational use of resources, such as paper, electricity, and water, as well as reduce our greenhouse gas emissions.

Furthermore, internally, we keep a rainwater harvesting and reuse system, we have a bicycle rack for our internal audience, and we promote initiatives to reduce energy consumption and the use of assorted resources (paper, water, and so forth).